1|Page | © copyright 2024/2025 | Grade A+
Avia 314- Final Exam Questions and
Correct Answers (100% Pass)
What has caused the average aviation business person the most trouble in
making sound business deciions?
✓ The love of aviation
Considering adjustments to strategic goals would be considered
✓ objectives planning
What does it mean when the text says that marketing is as much an art as a
science?
✓ No two approaches in marketing are the same. The business owner
must consider many variables before settling on a marketing strategy
How does the function of budgeting change when the budget period begins?
✓ Budgeting begins to focus on the controlling of spending
In regard to HR laws and regulations, what are the areas of employment law?
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Workmen's compensation, workplace safety, and discrimination in the
workplace
Which is a disadvantage for a partnership?
✓ Liability exposure
Why would for-sale aircraft in inventory greatly influence the company's
current ratio?
✓ Inventory aircraft are considered an asset
How should the flight line operations of an FBO view flight crews and their
passengers?
✓ They should be viewed as customers
What operational procedure changes were made in 2005 that allowed for
better integration of GA flying with airspace procedures in other parts of the
world?
✓ Domestic Reduced Vertical Separation Minimums program
There can be many positions within the maintenance business unit. What are
some of the key responsibilities of the manager of the maintenance unit?
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ To ensure profitability of service
The text mentions layers of insurance. The text also mentions the idea of a
reinsurer. Which company was mentioned as the ultimate reinsurer?
✓ Lloyd's of London
The survival of the FBO as a business is tied directly to
✓ the survival of the airport.
The Airline Deregulation Act was enacted what year?
✓ 1978
"I'm so busy doing the urgent things that there isn't time to do the important
things."
✓ This statement is from a manager who struggles with setting priorities.
Provide an example of a fixed cost.
✓ Insurance expense.
In regard to selecting employees, when is it a good time to send regret letters
to employee candidates?
Master01 | November, 2024/2025 | Latest update
Avia 314- Final Exam Questions and
Correct Answers (100% Pass)
What has caused the average aviation business person the most trouble in
making sound business deciions?
✓ The love of aviation
Considering adjustments to strategic goals would be considered
✓ objectives planning
What does it mean when the text says that marketing is as much an art as a
science?
✓ No two approaches in marketing are the same. The business owner
must consider many variables before settling on a marketing strategy
How does the function of budgeting change when the budget period begins?
✓ Budgeting begins to focus on the controlling of spending
In regard to HR laws and regulations, what are the areas of employment law?
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Workmen's compensation, workplace safety, and discrimination in the
workplace
Which is a disadvantage for a partnership?
✓ Liability exposure
Why would for-sale aircraft in inventory greatly influence the company's
current ratio?
✓ Inventory aircraft are considered an asset
How should the flight line operations of an FBO view flight crews and their
passengers?
✓ They should be viewed as customers
What operational procedure changes were made in 2005 that allowed for
better integration of GA flying with airspace procedures in other parts of the
world?
✓ Domestic Reduced Vertical Separation Minimums program
There can be many positions within the maintenance business unit. What are
some of the key responsibilities of the manager of the maintenance unit?
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ To ensure profitability of service
The text mentions layers of insurance. The text also mentions the idea of a
reinsurer. Which company was mentioned as the ultimate reinsurer?
✓ Lloyd's of London
The survival of the FBO as a business is tied directly to
✓ the survival of the airport.
The Airline Deregulation Act was enacted what year?
✓ 1978
"I'm so busy doing the urgent things that there isn't time to do the important
things."
✓ This statement is from a manager who struggles with setting priorities.
Provide an example of a fixed cost.
✓ Insurance expense.
In regard to selecting employees, when is it a good time to send regret letters
to employee candidates?
Master01 | November, 2024/2025 | Latest update
